A Look at the Cardano (ADA) Blockchain
Cardano is a distributed computing platform that runs the blockchain for the ADA cryptocurrency.
The project is a decentralised open-source public blockchain that develops smart contracts.
It is the first blockchain platform to evolve out of a scientific philosophy driven approach and has been built from ground up by peer reviewed academic research.
ADA holder governance
Most projects have a team of individuals solely responsible for the decision making and development of the blockchain. A unique part about Cardano is that it lets its token (ADA) holders to take part in the governance of the blockchain. Holders get to propose upgrades to the system and then vote on proposed changes. These are then selected by majority vote and are implemented by the developers.
Oroboros
Cardano uses a new proof of stake algorithm called Oroboros which determines how individual nodes reach consensus about the network. The algorithm is a crucial part of the infrastructure that supports the ADA cryptocurrency and is a major innovation in the blockchain technology. Oroboros eliminates the need of an energy-hungry proof of work protocol, which stands as a barrier for to blockchain scaling up for much wider use. Oroboros is the first peer reviewed protocol that has mathematically been shown to be provably secure.
In proof of stake, the stakeholder who will form the next block is randomly selected, proportionally to the size of the stake that they have, according to the blockchain ledger. For the blockchain to be secure, the means to selecting a stake holder to make a block must be truly random. An innovation of Oroboros to produce the randomness for the leaser election process is to do this by way of a secure multiparty implementation of a coin-flipping protocol.
Haskell Programming Language
Cardano was written in Haskell which is an advanced, purely functional computer programming language using complex mathematical logic in coding. It is a unique computing language and because Cardano is its own blockchain, being written in Haskell benefits it by keeping the project's creativity and originality safe from others trying to copy it. However because its a difficult language to programme in, it also makes it harder for developers to create applications using the language and there are not as many developers who can code in Haskel as there are who can code other languages.
Deadalus
Deadalus is a wallet platform that holds ADA. Deadalus allows transfers to other wallet addresses and the creation of an unlimited number of wallets to manage funds. It is secure, easy to download and is hierarchical deterministic which means it is easily back up and restore.
Links:
Cardano site - https://www.cardano.org/en/home/
Cardano White Paper - https://www.cardano.org/en/philosophy/
Cardano Community Twitter - https://twitter.com/cardanocom?lang=en
Cardano ADA Market Cap - https://coinmarketcap.com/currencies/cardano/